FCA sets out new rules for AR scheme
The FCA has published a policy statement containing new rules aimed at improving the Appointed Representative (AR) regime.
Background
In June 2021, the FCA set about investigating the industry’s regulatory hosting provision service, the AR scheme, following the Greensill Capital debacle, which saw the lender operating in the UK without a licence. At the time, The Drawdown explored the AR structure and potential impacts the regulator’s investigation might have on the industry.
Following this, the FCA consulted on improving the AR regime, proposing stronger oversight, in December 2021.
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Categories: NewsRegs & ComplianceRegulatory update
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